473 Lombard St · New Haven, CT 06513

$355,000

3 bd · 3.0 ba · 2,067 sqft · MultiFamily public records · 5 Days on market

Built 1900 4,791 sqft lot Est $480k · 26% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Don't miss this fully occupied 3-family property at 473 Lombard Street in New Haven. This income-producing investment features three occupied units, offering immediate rental income from day one. A minimum of 24-hour notice is required for all showings, and access to each unit will be coordinated accordingly. The property is serviced by natural gas, public water, and public sewer. While the building offers tremendous investment potential, it does require repairs and updates. The property will not qualify for FHA financing and is being sold strictly "As Is. " Any inspections conducted will be for informational purposes only. Cash offers are strongly preferred. Whether you're lookin

Key facts

• 4,791 sq ft lot
• 6 parking spots
• Built 1900

Property features AI

Finance

• Other: Located in New Haven County, Connecticut; Near commuter bus service and walkable to bus lines
• Financial info: Multi-family investment property (3 units)
• HOA & community: No HOA information provided

Exterior

• Parking: Paved areas, parking lot, and on-street parking available; 6 total parking spaces
• Security: No security details provided
• Utilities: Public water connected; Public sewer connected; Natural gas hot water and heat
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Concrete foundation
• Exterior features: Level lot; Shingle exterior siding; Asphalt shingle roof

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 6 bedrooms total (across units)
• Flooring: No flooring details provided
• Bathrooms: 3 full bathrooms
• Heating & cooling: Gas heating (natural gas); Window unit cooling; 50-gallon hot water tank
• Interior features: 12 total rooms; Basement is full, partially finished, and has a walk-out; Attic present with storage space, finished area, and walk-up access; Window unit cooling
• Laundry & utility: Basement laundry hook-ups

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $355k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $733/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $355k).
• Cap rate 13.7% vs local median 4.6% in New Haven — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#31 in CT, #2,190 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment D, crime F.
• New Haven School District (urban): math 12% / reading 25% proficiency, ranked #147 of 153 in CT (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Betsy Ross Arts Magnet School (math 12% / reading 27%, grade F, #161 of 175 statewide, top 93%, 327 students, 70% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 102 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $5,876/mo this rent would consume 145% of the median local household income ($48k/yr) (locally 2664% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $99k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $355,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.66% ✓
• Cap rate: 13.72%
• Cash-on-cash: 26.54%
• DSCR: 2.18
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $479,544
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
439 Lombard St	0.05mi	4/2.0 (+1)	1,996 (-3%)	4mo	$440,000	$220	80
335 Blatchley Ave	0.23mi	4/2.0 (+1)	2,180 (+6%)	20mo	$293,000	$134	54
44 Clark St	0.74mi	2/2.0 (-1)	1,968 (-5%)	8mo	$585,000	$297	42
255 Front St	0.65mi	4/2.0 (+1)	2,160 (+4%)	14mo	$575,000	$266	41
34 NASH St	0.51mi	4/2.5 (+1)	2,361 (+14%)	15mo	$600,000	$254	32
276 Front St	0.66mi	4/2.5 (+1)	1,872 (-9%)	22mo	$365,000	$195	29
187 Wolcott St	0.60mi	4/2.0 (+1)	1,812 (-12%)	18mo	$270,000	$149	27
685 Orange St	0.75mi	2/2.0 (-1)	2,265 (+10%)	16mo	$525,000	$232	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.12% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 1.90×
• Total profit: $89,248
• Equity at exit: $52,932

10-year hold

• IRR: 30.5%
• Equity multiple: 3.88×
• Total profit: $286,426
• Equity at exit: $30,694

Cash invested: $99,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Connecticut: 27 Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Strong tenant statutes; rent commissions in some towns; courts slow especially in cities.

Methodology + full state rankings →

ZIP-level market 06513

• Home prices YoY: -7.8%
• Rents YoY: 4.1%
• Active inventory: 102
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $5,876 high
• Mortgage (P&I): −$1,862
• Tax from tax record: −$434 /mo · $5,213/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,234
• Net cashflow: $2,198

Break-even live

Break-even rent $3,094

Max offer price $355,000

Occupancy floor 58%

Sensitivity live

Price	-10% $2,399	-5% $2,299	+0% $2,198	+5% $2,098	+10% $1,997
Rent	-10% $1,734	-5% $1,966	+0% $2,198	+5% $2,430	+10% $2,662
Rate	-1.0pp $2,377	-0.5pp $2,288	base $2,198	+0.5pp $2,106	+1.0pp $2,012

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,877
Total (3 units)			$5,876

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
426 Poplar St New Haven, CT	3.0	1.0	1658	$1,800	$1.09	46d	1	0.14mi
426 Poplar St Unit 2 New Haven, CT	4.0	2.0	1405	$1,800	$1.28	5d	1	0.14mi
548 Ferry St Unit 1 New Haven, CT	2.0	1.0	1610	$2,150	$1.34	17d	1	0.15mi
199 English St Unit 2 New Haven, CT	3.0	1.0	2776	$2,000	$0.72	46d	1	0.25mi
295 Lloyd St Unit 2 New Haven, CT	4.0	2.0	2621	$2,400	$0.92	5d	1	0.34mi
262 Lloyd St Unit 1 New Haven, CT	3.0	2.0	1460	$2,400	$1.64	6d	1	0.39mi
71 Mechanic St New Haven, CT	2.0	1.0	2878	$2,400	$0.83	46d	1	0.44mi
54 Mechanic St Unit 2nd floor New Haven, CT	4.0	2.0	1412	$3,600	$2.55	46d	1	0.47mi
120 Downing St Unit 3 New Haven, CT	3.0	2.0	1800	$2,450	$1.36	46d	1	0.55mi
28 Edwards St Unit 2 New Haven, CT	4.0	2.0	1800	$3,850	$2.14	17d	1	0.56mi
342 Exchange St New Haven, CT	2.0	1.0	2996	$1,500	$0.50	46d	1	0.59mi
52 Edwards St Unit 1 New Haven, CT	2.0	1.0	2348	$2,850	$1.21	5d	1	0.60mi
902 State St #2 New Haven, CT	3.0	2.5	1950	$3,750	$1.92	26d	1	0.62mi
318 Front St Unit one New Haven, CT	3.0	1.5	1400	$3,100	$2.21	24d	1	0.64mi
52 Canner St Unit 2 New Haven, CT	2.0	1.0	1400	$2,800	$2.00	46d	1	0.71mi
115 Lloyd St #2 New Haven, CT	4.0	2.0	2100	$2,500	$1.19	46d	1	0.72mi
300 Humphrey St Unit 2 New Haven, CT	3.0	2.0	2868	$3,295	$1.15	46d	1	0.73mi
31 Clark St New Haven, CT	4.0	2.0	1694	$4,200	$2.48	6d	1	0.73mi
315 Humphrey St Unit A New Haven, CT	4.0	3.5	2465	$4,500	$1.83	6d	1	0.73mi
68 Anderson St Unit A New Haven, CT	3.0	2.5	1693	$4,500	$2.66	46d	1	0.75mi
39 Houston St Unit 2 New Haven, CT	3.0	1.0	2863	$2,200	$0.77	46d	1	0.76mi
39 Houston St Unit 3 New Haven, CT	2.0	1.0	2863	$2,100	$0.73	6d	1	0.76mi
59 Clark St New Haven, CT	4.0	1.0	1541	$3,250	$2.11	26d	1	0.77mi
37 E Pearl St New Haven, CT	3.0	1.0	1600	$2,595	$1.62	46d	1	0.80mi
826 Orange St Unit 2 New Haven, CT	2.0	1.0	1600	$3,000	$1.88	46d	1	0.81mi
591 Orange St #1 New Haven, CT	2.0	2.0	1653	$4,225	$2.56	46d	1	0.82mi
84 Clark St Unit 1 New Haven, CT	2.0	1.0	1400	$3,000	$2.14	46d	1	0.83mi
187 Lawrence St New Haven, CT	2.0	1.0	1500	$2,950	$1.97	14d	1	0.85mi
506 Orange St Unit 2 New Haven, CT	3.0	1.5	1553	$3,600	$2.32	46d	1	0.93mi
251 Edwards St Unit 2 New Haven, CT	4.0	1.5	1522	$3,900	$2.56	6d	1	0.97mi
48 Lyon St Unit 1 New Haven, CT	3.0	1.0	1402	$2,950	$2.10	21d	1	0.98mi
339 Willow St Unit 1 New Haven, CT	4.0	2.0	2163	$4,050	$1.87	14d	1	0.99mi
441 Chapel St Unit 2A1 (shared) New Haven, CT	4.0	4.0	2151	$3,600	$1.67	5d	1	1.01mi
239 Bradley St Unit 1 New Haven, CT	3.0	1.0	1982	$3,650	$1.84	46d	1	1.03mi
896 Quinnipiac Ave #3 New Haven, CT	2.0	2.0	1600	$2,750	$1.72	0d	1	1.03mi
399 Orange St New Haven, CT	4.0	1.5	1650	$3,200	$1.94	14d	1	1.04mi
904 Quinnipiac Ave New Haven, CT	3.0	1.5	2125	$3,298	$1.55	0d	1	1.05mi
395 Orange St Unit 2 New Haven, CT	4.0	1.5	1650	$3,000	$1.82	46d	1	1.05mi
493 Whitney Ave Unit 3 New Haven, CT	2.0	1.5	1400	$3,150	$2.25	26d	1	1.05mi
420 Whitney Ave New Haven, CT	3.0–4.0	2.0–3.0	1800	$2,395	$1.33	14d	2	1.07mi

Listing history 5 events

1. 2026-06-23
   days on market $355,000 Active 5 DOM
2. 2026-06-21
   days on market $355,000 Active 4 DOM
3. 2026-06-18
   status $355,000 Active 1 DOM
4. 2026-06-16
   remarks 689-char remark
5. 2026-06-16
   listed $355,000 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CT · Partial reset (capped growth)

• Current annual tax: $5,213 · $434/mo
• Projected year-2 tax: $6,405 · $534/mo
• Expected delta: +$1,192/yr (+$99/mo · 22.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,512
• − Mortgage interest: −$19,886
• − Property taxes: −$5,213
• − Insurance: −$1,775
• − Repairs & maintenance: −$5,641
• − Management: −$5,641
• − Depreciation: −$10,327
• Taxable income: $22,029
• Est. tax owed @ 24.0%: −$5,287
• After-tax cash flow: $21,090/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: New Haven School District
• NCES district ID: 0902790
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 25% ▼ -10.00%
• Median HH income: $38,058
• Composite: 15.48/100
• National rank: #9308
• State rank: #147 of 153 in CT

Livability — New Haven

• Score: 79/100
• State rank: #31
• US rank: #2190

Category grades

Amenities A+ Commute A+ Cost of living C+ Crime F Employment D Housing B+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Haven, CT
• County: New Haven County · 688,236 people
• City population: 132,813
• Metro: New Haven-Milford, CT
• Population (ZIP): 38,888
• Household income: $48,500
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2664.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 47% White 26% Black 22% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 25% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 17% · Canada, Jamaica, South Korea
• Languages at home: 56% English-only · Spanish 39% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · South Central Connecticut

• 2024 margin: Strong D (+20.1) · D 59.0% · R 38.9% · Other 2.1%
• All cycles: 2024: D+20.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.87%
• Current HPI: 364.006
• Rent YoY: ▲ 4.12%
• Metro: New Haven-Milford, CT
• State GDP YoY: ▲ 1.06%
• F500 in state: 38

Industry mix (Fortune 500 HQ in CT)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$38B
▸Insurance	3	$71B
▸Financial Services	2	$25B
▸Transportation / Logistics	2	$18B
▸Healthcare	1	$247B
▸Telecommunications	1	$55B

Price history

1 event — show timeline

• 2026-06-16 Coming Soon $355,000 Smart MLS

Property tax history

+6.2%/yr

Latest (2023): $5,213 · -6.4% YoY. Source: county tax records.